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American City Business Journals, Inc. and its licensors. All rights. reserved.http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/the-fine-print-bala-firm-expands.htmlThe Fine Print: Bala firm expands, Liberty moves officeWed, 15 Dec 2010 11:03:01 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/0thOBYlcZqc/the-fine-print-bala-firm-expands.html
Hamilton Lane, a financial firm that handles private equity asset management, has renewed its lease in Bala Cynwyd and expanded its presence there.
The firm re-upped on 35,950 square feet and added another 16,095 square feet at One Presidential Boulevard.
The lease is for more than 10 years and brings the building up to 87 percent occupied. The 130,804-square-foot building is owned by Keystone Property Group … Liberty Property Trust (NYSE:LRY) relocated its South Jersey office to 5,037 square…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/0thOBYlcZqc" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/the-fine-print-bala-firm-expands.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/cira-centre-celebrates-as-phillies.htmlCira Centre celebrates as Phillies sign fan favorite LeeTue, 14 Dec 2010 15:03:11 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/YVkZSOJCShE/cira-centre-celebrates-as-phillies.html
Philadelphia is abuzz about the Phillies signing Cliff Lee and it was a pleasant surprise driving in this morning to see a huge Phillies “P” lit up on Cira Centre, the 28-story office tower next to 30th Street Station owned by Brandywine Realty Trust (NYSE:BDN).
Subtle in blue and red, the P stood out as a bright beacon on this cold day, taking up the entire side of the building facing the Schuylkill Expressway. Go Phillies!<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/YVkZSOJCShE" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/cira-centre-celebrates-as-phillies.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/red-rocks-oneill-testing-apartment.htmlRed Rocks, O’Neill test apartment marketFri, 10 Dec 2010 19:33:23 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/ejnponbm0QI/red-rocks-oneill-testing-apartment.html
Apartments are the hot property type these days as the multifamily market continues to gain investor attention. Some owners have decided now might be a good time to test the investment market. For example, Red Rocks Group has the Conventry at Glenn Mills on the market and O’Neill Properties Group is seeking to sell Londonbury in Conshohocken. See earlier blog on that here. h
Meanwhile, an entity affiliated with Korman Communities sold Rushwood, a complex at 10825 E. Keswick Road in Philadelphia…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/ejnponbm0QI" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/red-rocks-oneill-testing-apartment.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/wachovias-exit-creates-available.htmlWachovia site being marketed as retail space, restaurantThu, 09 Dec 2010 18:31:18 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/NaJoUKb0FwY/wachovias-exit-creates-available.html
A former Wachovia bank branch building at the corner of 5th and Market streets is being marketed for a store or restaurant, creating a decent amount of available retail space fronting Market Street in Old City.
The 481,000-square-foot building has always been used as a bank operations center. When I first started at working at the Philadelphia Business Journal at 400 Market St., First Union had the space, then its successor Wachovia and now Wachovia’s buyer Wells Fargo. I’ve been a first-hand…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/NaJoUKb0FwY" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/wachovias-exit-creates-available.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/latham-hotel-in-phila-to-be-renovated.htmlLatham Hotel in Phila. to be renovatedTue, 07 Dec 2010 10:14:05 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/Xyexni1mFqE/latham-hotel-in-phila-to-be-renovated.html
Ocean Properties Ltd. is launching a multimillion-dollar interior renovation of the Latham Hotel in Center City. This 14-story boutique hotel at 17th and Walnut streets will get a total redo inside including its 135 rooms and bathroom, lobby, lounge area, restaurant and operational areas.
BLT Architects of Philadelphia was retained to redesign the interior, which is now in a more traditional fashion, into one with more of a contemporary style.
Ocean Properties, which is based in Portsmouth, N.H.,…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/Xyexni1mFqE" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/latham-hotel-in-phila-to-be-renovated.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/the-fine-print-farmers-insurance.htmlThe fine print: Farmers Insurance enters Phila.Mon, 06 Dec 2010 15:06:43 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/7jXX4MgSsuk/the-fine-print-farmers-insurance.html
Farmers Insurance Group signed a seven-year lease on 26,588 square feet at 1000 Continental Drive in King of Prussia and is entering the Philadelphia market for the first time and beginning its expansion along the East Coast.
The space will become a Farmers AgencyPoint Center, which is a recruiting and training facility for Farmers. The office will open by the end of this year and seek out folks looking to own their own Farmers Insurance agency business. The building is a 200,000-square-foot structure…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/7jXX4MgSsuk" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/the-fine-print-farmers-insurance.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/church-of-latter-day-saint-buys-land.htmlChurch of Latter-Day Saints buys land for $70M templeFri, 03 Dec 2010 15:48:39 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/Milfp89jctk/church-of-latter-day-saint-buys-land.html
The Church of Jesus Christ of Latter-day Saints has closed on buying a parcel at 18th and Vine streets in Philadelphia, paving the way for construction of a $70 million landmark temple on the Benjamin Franklin Parkway.
The parcel, now a surface parking lot, traded for around $7.5 million and was bought from an entity affiliated with Klein Co., a Philadelphia real estate developer.
The parcel had come under dispute as Klein, who bought the land from the Redevelopment Authority, failed to construct…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/Milfp89jctk" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/church-of-latter-day-saint-buys-land.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/toll-brothers-sales-fall-but-many.htmlToll Brothers sales fall but many positive signsThu, 02 Dec 2010 16:50:28 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/wBck5PahwQI/toll-brothers-sales-fall-but-many.html
Toll Brothers Inc. swung to a profit during its fiscal fourth quarter after it gained on a tax credit and reduced writedowns on its land holdings.
The Horsham, Pa., high-end homebuilder reported net income of $50.5 million, or 30 cents a diluted share, compared with a loss of $111.4 million, or 68 cents a share last year at the same time. The quarter included a net tax benefit of $59.9 million, compared to $4.7 million during the fourth quarter last year. Even though it showed gains, the company…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/wBck5PahwQI" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/12/toll-brothers-sales-fall-but-many.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/11/deerwood-firm-secures-loans-for-phila.htmlDeerwood firm secures loans for Phila. shopping centersTue, 30 Nov 2010 15:46:51 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/BCskHVaVqCA/deerwood-firm-secures-loans-for-phila.html
There appears to be a slight uptick in commercial loans getting arranged on properties. In yesterday’s blog, I mentioned that Meridian Capital Group lined up $41 million to refinance a 997-unit apartment complex called Hatfield Village off Maple Avenue in Montgomery Township.
Today I see that Deerwood Real Estate Capital, a commercial mortgage brokerage from Englewood Cliffs, N.J., recently secured a series of loans for four local properties, three of which are shopping centers. Here they are:
•…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/BCskHVaVqCA" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/11/deerwood-firm-secures-loans-for-phila.htmlhttp://www.bizjournals.com/philadelphia/blogs/real_estate/2010/11/the-fine-print-pointroll-finds-new-home.htmlThe Fine Print: PointRoll finds new homeMon, 29 Nov 2010 17:45:26 +0000Natalie Kostelnihttp://feeds.bizjournals.com/~r/philadelphia_blog_realestate/~3/L4H8DcvpE3k/the-fine-print-pointroll-finds-new-home.html
PointRoll Inc., a subsidiary of Gannett Co. Inc., a newspaper publisher that puts out USA Today among other papers, signed a long-term lease on 28,638 square feet of office space at 3200 Horizons Drive in King of Prussia.
The company had been in space at 951 E. Hector St. in Conshohocken. Gannett bought PointRoll in 2005 from Chris Saridakis, who served as Gannett’s chief digital officer for a stint and landed this year as the CEO of the marketing services division of GSI Commerce in King of Prussia.
The…<img src="//feeds.feedburner.com/~r/philadelphia_blog_realestate/~4/L4H8DcvpE3k" height="1" width="1" alt=""/>http://www.bizjournals.com/philadelphia/blogs/real_estate/2010/11/the-fine-print-pointroll-finds-new-home.html